Altisource(TM) Announces Completion of Spin-Off of Altisource Residential Corporation and Altisource Asset Management Corporation
The spin-offs were completed at the close of business on
The Residential Shares will trade on the
As previously disclosed, the spin-offs will be treated as a taxable distribution to Altisource shareholders. The holders of Altisource common stock that received the distribution of Residential Shares and AAMC Shares in the spin-offs are urged to consult their tax advisors concerning the effect of any U.S. federal, state, local and federal tax laws on the distribution.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Those forward-looking statements include all statements that are not historical fact, including statements about management's beliefs and expectations. Forward-looking statements are based on management's beliefs as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to future economic performance and are not statements of historical fact, actual results may differ materially from those projected. Altisource undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to: Altisource's ability to retain existing customers and
attract new customers; general economic and market conditions; governmental regulations, taxes and policies; availability of adequate and timely sources of liquidity and debt financing; and other risks and uncertainties detailed in the "Forward-Looking Statements," "Risk Factors" and other sections of Altisource's Form 10-K and other filings with the
Altisource is a global provider of services focused on high-value, technology-enabled knowledge-based solutions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management. Additional information is available at www.altisource.com.
Residential is engaged in the acquisition and ownership of single-family rental assets. Its primary sourcing strategy is to acquire these assets by purchasing sub-performing and non-performing mortgages as well as single-family homes at or following the foreclosure sale. Additional information is available at www.altisourceresi.com
AAMC is an asset management company that provides portfolio management and corporate governance services to investment vehicles that own real estate related assets. Its initial client is Residential, a real estate investment trust formed to acquire and own single family rental assets through the purchase of sub-performing and non-performing mortgages as well as single-family homes at or following the foreclosure sale. Additional information is available at www.altisourceamc.com
Michelle D. EstermanChief Financial Officer T: +352 2469 7950 E: email@example.com
News Provided by Acquire Media